Yearn won the dai prize once again…… the grand prize and the runner up……
I am new to Pool Together and been hooked on here, this dApp makes perfect sense to newbies like myself, other dApps like AAVE, COMP, SNX, MAKER, etc etc are not too simple for average minds and mainstream. dAPPs like Pool Together makes all the sense.
However, if it’s possible that big players like other dApps (in this case yearn) can win the prize then what’s the point? What happens when huge dapps like ALPHA Finance, Aave just to mention a few decide to contribute in pools? (that’s if they are not already in)
if that’s possible there is frankly no way of thinking that small ticket holders or the “average joe” can win.
This is a current issue in the protocol, it’s why PTIP-24 happened, which is only the first phase of trying to find a solution for the Whale’s winning so frequently. It’s been a struggle historically for the protocol to balance getting and retaining big depositors to increase the prizes from their interest and make winning attainable for smaller depositors. A second phase is in the works, and there’s other discussions being had where the protocol could move some POOL drip to sponsorship since many of the Whales are farming POOL as that is more profitable for them that winning the prize.
We’re working on it, it’s just a slower than desired and calculated approach to maintain a healthy protocol.
But the second Runner up went to someone with a 101 Dai deposit…
Yearn finance is a pool of 1000 people so it’s not like a super rich dude taking all the prize money
In the end, for the small fish it doesn’t make a difference where the deposits come from. Whether it’s from a few whales or from thousands of other small fish, the chances of winning such a big prize will be the same
The big fish are using PoolTogether more as yield generator i.e. small predictable returns in proportion to the size of their deposits… for small ticket holders this is a true lottery i.e. they have a very small chance to win a very big prize